German Electric Mobility Association, BEM, Files for Bankruptcy Amid Difficult Development of Automotive Industry in Country | 🚘 LatestLY
- A leading German organization that represents 450 electric vehicle manufacturers has recently declared bankruptcy.
- The BEM's bankruptcy follows prolonged struggles caused by stagnation in Germany’s automotive industry and challenges in the electric vehicle transition.
- Bosch announced job cuts due to the sluggish global economy, while electric car sales collapsed after EV subsidies ended amid a tense market environment.
- BEM members generate $114 billion in turnover and employ about one million people worldwide, marking this bankruptcy as a major economic signal.
- This bankruptcy highlights deeper issues in Germany’s automotive sector and raises uncertainty over government and industry responses to promote sustainable mobility.
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German Electric Mobility Association, BEM, Files for Bankruptcy Amid Difficult Development of Automotive Industry in Country | 🚘 LatestLY
The German Electric Mobility Association (Bundesverband eMobilität - BEM) has filed for bankruptcy amid difficult development of automotive industry in the country. BEM represents hundreds of companies having sales volume of billions of euros; however now it is insolvent. 🚘 German Electric Mobility Association, BEM, Files for Bankruptcy Amid Difficult Development of Automotive Industry in Country.
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